WH Smith in talks to sell high street stores

The primary of WH Smith’s 500 excessive avenue shops opened greater than 230 years in the past, working as a information vendor. It has since grown into a significant excessive avenue and journey retailer.

The journey retail enterprise facet of WH Smith – which operates from airports, prepare stations and hospitals – now accounts for greater than 85% of its revenue. The excessive avenue enterprise makes up the remaining.

The retailer mentioned there was “no certainty that any settlement shall be reached”, however added that it could present updates on the attainable sale.

It employs round 5,000 individuals at its excessive avenue outlets.

Round 200 of its shops even have a Publish Workplace counter that are staffed by WH Smith workers.

Commenting on the way forward for these counters, the Publish Workplace mentioned it’s in touch with WH Smith “to know extra about their plans for his or her excessive avenue shops”.

Final November, the state-owned Publish Workplace introduced it was reviewing the way forward for 115 branches it owns. One choice it was exploring was a franchise association with WH Smith.

WH Smith was valued at £1.5bn on the shut of enterprise on Friday. That determine represents the worth of your complete group.

Catherine Shuttleworth, a client retail analyst at Savvy Advertising and marketing, mentioned buying behaviour within the UK had “radically modified”, lowering the explanations to go to shops like WH Smith.

“Most of us learn our information on-line not in magazines and newspapers, we obtain books and ship birthday playing cards via on-line operators,” she mentioned.

The main focus for a enterprise like WH Smith was now “in outlets in excessive footfall areas like airports, stations and hospitals,” Ms Shuttleworth added.